News & Commentary
Intelligent Utility Insights
Brought to you by our editorial team.
- Sep 20, 2014 |
- Sep 18, 2014 |
- Sep 17, 2014 |
- Sep 16, 2014 |
- Sep 15, 2014 |
- Sep 12, 2014 |
- Sep 11, 2014 |
- Sep 10, 2014 |
- Sep 09, 2014 |
- Sep 08, 2014 |
Commentary from Industry Pros
For those who have been watching the ongoing climate debate about global warming, the increasingly hot summer months are a poignant reminder of that phenomenon whenever the monthly power bill arrives in the mailbox.
Geographic remoteness and poor connectivity mean many electricity generators encounter issues when attempting to keep remote sites or workers up-to-date with essential data.
If you've participated in a demand response (DR) event before, you probably have a reduction strategy already in place. But what if you're forgetting something? What if there are more ways to reduce energy and get an ever larger payment?
The increased integration of machine to machine (M2M) technology is providing the field service industry with excellent opportunities to offer new services and increase revenue, while enhancing the overall quality of the customer experience.
Weather and nature are unstoppable forces but the results of their power are the same - the power is down and getting the lights turned back on is top priority.
Utilities, like other industry sectors in today's technology-driven economy, rely heavily on networked communications to support practically all their business operations. Among the external operations that depend on the network are advanced metering infrastructure, customer billing, home-automation systems and monitoring of gas pipelines or electricity generation/distribution infrastructure.
tasty sandwich. You pull out the turkey, unscrew the mayo jar, and start to slice the tomato. Just as you begin to un-twist the bag of bread, your electricity goes out, leaving you utterly ravenous and perhaps a bit frightened. You should be making your way to check the fuse box, but all you can think is, "Damn you, power companies. I didn't toast my bread!"
Traditional Enterprise Asset Management in asset intensive utilities has grown into much wider dimension with the introduction of networked Smart Grids and installation of intelligent devices on the grid network. Utilities that are in the asset intensive business have the challenging task of maintaining and monitoring their critical assets effectively and efficiently with high availability and reliability.
Utilities face increasing pressure from stakeholders and communities to improve their financial performance and profitability by minimizing write-offs for uncollectible accounts. West Monroe Partners recently benchmarked clients to identify best practices used to improve utility collections performance. While collections performance is highly measurable, visible, and actionable, it is also influenced dramatically by local ordinances and challenges that are unique to each utility. Our benchmarking effort identified six best practices that utilities can employ to improve their collections performance. Some utilities are hesitant to change collections practices, fearing a corresponding drop in customer satisfaction. West Monroe's benchmarking found the opposite to be true -- generally, utilities that implement and strictly enforce collections policies have higher customer satisfaction.
Smart Grid 3.0 (or SG3) is considered a user-centric power grid that allows end-users to hold an active participatory role in the network and potentially in the retail energy market. SG3 will have all the necessary foundations for novel business models and marketplaces. In SG3, prosumers could interact and collaborate at will, by producing, consuming, storing but also transacting energy on a peer-to-peer basis.